Pre-tax profits of Vietcombank and VietinBank, two large banks with majority State ownership, rose slightly in 2012 despite tough challenges facing the banking industry. Vietcombank obtained a consolidated profit of some VND5.7 trillion in 2012 while VietinBank achieved about VND8.21 trillion as of the end of last month. Vietcombank in 2011 enjoyed a consolidated pre-tax profit of roughly VND5.69... 

Commercial banks have officially announced big profits for the first six months of 2011, despite the tightened monetary policies under which their credit growth rate must not be higher than 20 percent, and banks cannot push up the loans to non-production sectors. Big guys report big profits On July 25, all four of the biggest commercial banks which list their shares on the stock market; namely Vietcombank,... 

Over half of the foreign-invested firms in Ho Chi Minh City that claimed losses in 2010 do make a profit this year, according to an audit aimed at detecting whether or not they engaged in transfer pricing, an illegal technique to evade taxes. According to the auditing result announced by the Ho Chi Minh City Tax Bureau on Tuesday, 1,342 foreign-invested firms in HCMC have reported profits, which... 

Can Tho-based Western Commercial Bank (Western Bank) in its general meeting late last week set the 2011 pre-tax profit target of VND350 billion, a five-fold increase over its 2010 result. The bank, which spurred chartered capital to VND3 trillion as per the requirement in February this year, targets mobilization of VND18 trillion and total assets of VND25 trillion by the end of 2011, or an increase...